On May 11, 2023, Lion One Metals Limited announced that they closed a $27 million bought deal public offering through issuing 29,350,000 units of the Company at a price of $0.92 per unit. The aggregate gross proceeds of $27,002,000 are pursuant to the terms of an underwriting agreement. The lead underwriter is Eight Capital and the other underwriter consist of Canaccord Genuity Corp., Raymond James Ltd. and Roth Canada Inc. The company projects to utilize the net proceeds towards their exploration and development activities for its Tuvatu Alkaline Gold Project located in Fiji.
Lion One Metals Limited is high grade alkaline gold project for production located in the Fiji Islands.
Osler, Hoskin & Harcourt LLP advised Lion One Metals Limited with a team consisting of Alan Hutchison, Patrick Sullivan, Lauren Sutherland and Nicole Ladeur (Corporate).